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Dec 12, 2012
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in a sense what we are talking about with the fiscal cliff where there may be a deal on tax rates and later next year deal with entitlements in the deficits and debt ceiling and the other issues facing us. would you support backing away from a comprehensive legislation to perhaps piece meal it together or are we past that at this point with so many millions of people in the country illegally? >> there is a consensus growing that piece meal doesn't work. every time we had an individual element of the comprehensive immigration reform and taken one piece and putting it on the floor, it becomes where everybody else wants to add on. if you put ag jobs on the floor for the agriculture industry, the high tech industry said wait a minute, we need visas for high tech workers. site food industry said we need the low visas for ship hands. then you have the hotel and restaurant industry. you have a series of elements that become a demand. you are back to trying to solve the problem comprehensively. there is a agreeing consensus that we have to achieve through comprehensive reform. what that pathw
in a sense what we are talking about with the fiscal cliff where there may be a deal on tax rates and later next year deal with entitlements in the deficits and debt ceiling and the other issues facing us. would you support backing away from a comprehensive legislation to perhaps piece meal it together or are we past that at this point with so many millions of people in the country illegally? >> there is a consensus growing that piece meal doesn't work. every time we had an individual...
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Dec 4, 2012
12/12
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cliff, tax rates go up not just for the rich but for the middle class, for everyone, all those cuts in domestic spending and naths security spending, they go into effect. people aren't going to be happy about that, and the president will be able to say, look, i begged them, i repeatedly said 98% of the american public, they wouldn't get a tax increase if we just took them out of the equation, let's pass legislation extending the bush tax cuts for everyone earning under $250,000 a year. they didn't do it. so, you know, he'll have some leverage on that in terms of the politics because politically, you know, the polls all are very consistent. the election results are pretty consistent. the american public is ready for a modest increase in taxes for the upper 2% of taxpayers. having said that, there's another issue that's coming up in february or march and that's raising the debt ceiling once again. the republicans have a lot of leverage on that right now because the white house, the administration will desperately want to raise that debt ceiling so the u.s. doesn't go into default. tha
cliff, tax rates go up not just for the rich but for the middle class, for everyone, all those cuts in domestic spending and naths security spending, they go into effect. people aren't going to be happy about that, and the president will be able to say, look, i begged them, i repeatedly said 98% of the american public, they wouldn't get a tax increase if we just took them out of the equation, let's pass legislation extending the bush tax cuts for everyone earning under $250,000 a year. they...
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Dec 2, 2012
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. >> reporter: secretary geithner said he cannot promise we will not go over the fiscal cliff and whether or not we go over it depends -- is a decision, rather, that lay in the hands of republicans that don't want to increase tax rates. speaker boehner said there is a chance we go over the cliff, but he doesn't want any part of that and he will do everything he can to avert that. eric, jamie? >> eric: peter, negotiations if and when they commence and continue, we'll see what happens. thank you, peter. jamie? >> jamie: well, you will also want -- we're going to talk, actually, to chris wallace and get a preview about that interview. hard to believe he has both tim geithner and john boehner. from the looks of it, john boehner does seem to be flabbergasted. we'll get to that shortly. >> eric: that is on "fox news sunday." later today, exclusive interview with speaker boehner. sunday at 2:00 p.m. and 6:00 p.m. right here on the fox news channel. >> jamie: well, there is a push by the senate republican leader mitch mcconnell as well to put medicare and social security on the table to try and t
. >> reporter: secretary geithner said he cannot promise we will not go over the fiscal cliff and whether or not we go over it depends -- is a decision, rather, that lay in the hands of republicans that don't want to increase tax rates. speaker boehner said there is a chance we go over the cliff, but he doesn't want any part of that and he will do everything he can to avert that. eric, jamie? >> eric: peter, negotiations if and when they commence and continue, we'll see what...
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Dec 11, 2012
12/12
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speaspeaker they begin now untie are near the fiscal cliff. mortgage rates three and a quarter percent. buyers have been on the sidelines for five years and anxiously been waiting for better news, more consumer confidence to come back out. we had a great spring selling season. now we are selling into the winter. it all feels good. liz: that doesn't usually happen with this much muscle. are there any log jams, or our would-be buyers getting the credit they need to buy the homes? >> our clients can get mortgages. our buyers tend to put a lot more money down. they mortgage a lot less, very high credit ratings. we are not seeing that problem at all. lower price point a little bit of a problem but it is getting better. liz: when you look at parts of the business that have done well. the analyst has taken a bit of a back seat to the actual lending business creating a cash cow for a lot of you guys. how is that doing and we understand the margins are very healthy for a lot of these names that are out there? >> our service is toll brothers, the only c
speaspeaker they begin now untie are near the fiscal cliff. mortgage rates three and a quarter percent. buyers have been on the sidelines for five years and anxiously been waiting for better news, more consumer confidence to come back out. we had a great spring selling season. now we are selling into the winter. it all feels good. liz: that doesn't usually happen with this much muscle. are there any log jams, or our would-be buyers getting the credit they need to buy the homes? >> our...
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Dec 20, 2012
12/12
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doesn't deal with all the fiscal cliff items that are on that list. first it keeps income tax rates for all income amounts of less than one million dollars. it also keeps the top capital gains and dividend rates for 15% for all less than a million dollars. income more than a million dollars the top rate goes to 0%. it insures 10 of millions of americans don't have to pay the alternative minimum tax. it sets the estate tax of 35% of amounts passed on more than $5 million. you know of the sequester. these are automatic spending cuts supposed to have over the next 10 years. they start in january. this bill would create other government spending cuts to replace those cuts for just next year. back to you. liz: when are we actually going to do something about this deficit? man, people are wondering and waiting. rich, thank you. they don't want to feel it themselves. guess what? we're all part of the same country and fox business is right there. we'll have full live coverage of tonight's vote on the fiscal cliff including a special report hosted by neil cavu
doesn't deal with all the fiscal cliff items that are on that list. first it keeps income tax rates for all income amounts of less than one million dollars. it also keeps the top capital gains and dividend rates for 15% for all less than a million dollars. income more than a million dollars the top rate goes to 0%. it insures 10 of millions of americans don't have to pay the alternative minimum tax. it sets the estate tax of 35% of amounts passed on more than $5 million. you know of the...
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cliff. earlier today, president obama brought the debt ceiling debate, or would be debate into the picture. it feels like a lot of the work that you do -- people say okay, we spent 100 grand on this or maybe watching the shrimp on a treadmill. it's not a big deal. >> is a big deal because the way you eliminate a trillion dollar deficit is a billion dollars at a time. the wavy you get a billion dollars is 100 million or $10 million at a time. so what is our excuse? can we say that it is okay to waste money and hundreds of thousands of small areas that add up to trillions of dollars? or do we have to look at big areas? what i would put forward is congress isn't doing their job and how they write it and oversight it. i still pick up any of my feet on the ground because the penny is were 3.5 cents. anyone in america who is struggling today, we don't have the luxury of ignoring stupidity and waste anymore. charles: i have less than a minute. i have to squeeze this in here. you think we could be a
cliff. earlier today, president obama brought the debt ceiling debate, or would be debate into the picture. it feels like a lot of the work that you do -- people say okay, we spent 100 grand on this or maybe watching the shrimp on a treadmill. it's not a big deal. >> is a big deal because the way you eliminate a trillion dollar deficit is a billion dollars at a time. the wavy you get a billion dollars is 100 million or $10 million at a time. so what is our excuse? can we say that it is...
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Dec 16, 2012
12/12
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61% of rublians are willing to set higher tax rates if it means avoiding the fiscal cliff. at billy does strengthen the president's had even more. >> is boehner's job in trouble? >> i don't think so, but you cannot tell with that caucus. >> why wouldn't republicans and markets -- republicans and democrats not look at this as an opportunity to do something people would appreciate? >> because the ground was not later the public does not reize werio this is, because obama did a poor job of telling them as president of united states. all republicans seem to be doing is defending rich people. the ground has not been allayed. maybe out of this chaos will emerge understanding, but the fights over the charitable deductions -- all these charitable institutions are rising up and saying you cannot touch that somebody has got to stand up and say that everybody has to have the skin in this game. rich people, poor people, middle class -- everybody hagot to be in >> even the relatively painless things -- means testing, medicare -- maybe to propose rules to mean testing -- maybe the propos
61% of rublians are willing to set higher tax rates if it means avoiding the fiscal cliff. at billy does strengthen the president's had even more. >> is boehner's job in trouble? >> i don't think so, but you cannot tell with that caucus. >> why wouldn't republicans and markets -- republicans and democrats not look at this as an opportunity to do something people would appreciate? >> because the ground was not later the public does not reize werio this is, because obama...
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Dec 19, 2012
12/12
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gerri: negotiating on e fiscal cliff toy, the house that to vote on two amendments and then it is up to the senate to pic up the ball. senator, welcome back to the show, always nice toave you here. >> thank you very much. gerri: we just spoke with art laffer, i was surprised to hear him say he sees room for compromise and he was okay, as he put it, with what republicans were putting out, higher taxes for people earning a million dollars or more. and then listen to this. >> i can't imagine i would not be supportive of a proposal that had permanent tax reductions for substantial portion othe american taxpaying public. my own vew would be to not raise taxes on anyone but we will do with the package from the house, majority obviously will have a chance to change it. gerri: is there compromise in the air, are we close to a deal? >> there is me compromised than we're hearing from both sides posturing as pple do in negotiations, but i see a coming together. i think john boehner has been very bold, put something on the tabl that includes tax cuts on the vast majority of people in exchange fo
gerri: negotiating on e fiscal cliff toy, the house that to vote on two amendments and then it is up to the senate to pic up the ball. senator, welcome back to the show, always nice toave you here. >> thank you very much. gerri: we just spoke with art laffer, i was surprised to hear him say he sees room for compromise and he was okay, as he put it, with what republicans were putting out, higher taxes for people earning a million dollars or more. and then listen to this. >> i can't...
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Dec 8, 2012
12/12
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when you hear about the fiscal cliff, it is not really the tax rate. i do not buy that at all. i do not think we need to increase these tax rates. >> if you go over and the tax rates go up on everyone and all that goes away -- >> i do not think we should do it. i think we should resolve this. it depends on if we do something about it in the next month or two after that. if we do something in 30 days or 90 days and we are clear about that, but nothing people believe we are going to do something until we do it. >> the to go to the broader concern. does the top rate have to end the 39.6% the way it was under bill clinton? could be democrats accept something between if it was coupled with a reduction in the ability on the top 2% to except a reduction of deductions? >> i do not want to second-guess what we might decide. i do not think that is what we should debate the right now. multimillionaires and what deductions they can take is something different. this is where we are. >> that is in addition to. >> yes, in addition to. the problem with having that debate now suggests that that
when you hear about the fiscal cliff, it is not really the tax rate. i do not buy that at all. i do not think we need to increase these tax rates. >> if you go over and the tax rates go up on everyone and all that goes away -- >> i do not think we should do it. i think we should resolve this. it depends on if we do something about it in the next month or two after that. if we do something in 30 days or 90 days and we are clear about that, but nothing people believe we are going to...
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Dec 6, 2012
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and timothy geithner has told the cnbc the swhous ready to go over the fiscal cliff if tax rates on the nation's wealthiest don't rise. dag gri announces the rate decision later about plus apple shares still down in frankfurt. and its shares of the chinese market drop in the third quarter. >>> deutsche bank has hit back at allegations of financial impropriety brought by three former employees. according to reports, the ex-deutsche workers have launched a complaint with u.s. authorities alleging the bank failed to recognize $12 billion in unrealized losses at the height of the financial crisis. they claim improper accounting on the part of the deutsche bank enabled the lender to exaggerate its capital position. and citigroup plans to shed 11,000 jobs around the world which equals around 4% of its workforce. some experts say this is part of a strategy led by their new coe who took job in october, however others say it has the finger prints of chairman michael o'neal. citi shares reacted positively to the news, though the stockstill trading at around 70% of its tangible book value. you can
and timothy geithner has told the cnbc the swhous ready to go over the fiscal cliff if tax rates on the nation's wealthiest don't rise. dag gri announces the rate decision later about plus apple shares still down in frankfurt. and its shares of the chinese market drop in the third quarter. >>> deutsche bank has hit back at allegations of financial impropriety brought by three former employees. according to reports, the ex-deutsche workers have launched a complaint with u.s. authorities...
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Nov 29, 2012
11/12
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we go over the fiscal cliff rates reset under bill clinton and you're negotiating a tax cut not a tax increase. other thing the way weight of public opinion since that level has moved strongly against republicans. look who the public says they're going to blame if we go over the cliff, it's republicans because they see them as having forced the issue last time around, been willing to do this this time around. one reason boehner is grumbly and nervous because he doesn't have any leverage. >> i want to point this out. this is interesting in terms of the smoke and mirrors how this will play out for the republicans. in the "wall street journal" they write obama's flexible on highest tax rates. white house's flexibility, described by bowls, confirmed by the administration officials, could envision tax rates -- tax rate increase from the current level but was less than clinton era levels. if the republicans can say, we cut taxes from where they were under clinton it gives them cover though rates may go up. a weird, if there is an act of kabuki theater that would be it, right. >> i see a par
we go over the fiscal cliff rates reset under bill clinton and you're negotiating a tax cut not a tax increase. other thing the way weight of public opinion since that level has moved strongly against republicans. look who the public says they're going to blame if we go over the cliff, it's republicans because they see them as having forced the issue last time around, been willing to do this this time around. one reason boehner is grumbly and nervous because he doesn't have any leverage....
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Dec 12, 2012
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. >>> we go back to the fiscal cliff and the president's call for higher tax rates for the wealthy. republicans fighting those hikes, say that one of the victims would be america's small businesses. >> people need to call him and ask him the question are you also talking about the small business folks. >> if you look at what he's doing, as jon kyl mentioned, raising taxes on small businesses -- >> so we hear that all the time, small business, small business. but would the president's plan really take a dent out of what we think of as mom and pop shops? joining me now is glenn kesler of the "washington post" fact check. great to have you here. speaker boehner made a similar claim about small businesses recently and you guys gave him criticism on this. how many mom and pop shops could see higher taxes under the president's plan? >> it's not really a lot. in terms of -- part of the problem is the way people manipulate the data but it's only about depending how you look at it, 3% to 7% of small businesses, people would think of as small businesses, are actually -- would actually be affe
. >>> we go back to the fiscal cliff and the president's call for higher tax rates for the wealthy. republicans fighting those hikes, say that one of the victims would be america's small businesses. >> people need to call him and ask him the question are you also talking about the small business folks. >> if you look at what he's doing, as jon kyl mentioned, raising taxes on small businesses -- >> so we hear that all the time, small business, small business. but would...
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Dec 10, 2012
12/12
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. >> when it comes to the fiscal cliff disrupting our economy and threaten jobs, the white house has wasted another week. >> democrats shona signs of backing off from supporting the president's hard-line stance on raising the income tax rate on the rich. >> we realize there have to be two sets to the bargain, but we are not going to go back to what we did in 2011 putting both revenues and cuts on the table. >> despite the impasse in washington promising signs the economy might be improving -- more job creation, improvement in the housing sector, and a decrease in household debt. solution -- spending cuts combined with an increase in tax revenue. >> talks about the fiscal cliff and the meeting between president obama and john boehner -- >> the president is trying to do two things. he is trying to both reopen negotiations, direct negotiations between him and the house speaker, the deal be struck between them. at the same time he is going to michigan tomorrow, where he will make the same case to autoworkers, the same types of middle-class people who helped him get elected in the industr
. >> when it comes to the fiscal cliff disrupting our economy and threaten jobs, the white house has wasted another week. >> democrats shona signs of backing off from supporting the president's hard-line stance on raising the income tax rate on the rich. >> we realize there have to be two sets to the bargain, but we are not going to go back to what we did in 2011 putting both revenues and cuts on the table. >> despite the impasse in washington promising signs the economy...
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Nov 11, 2012
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. >> moving ahead to the fiscal cliff. john boehner has reiterated that the newly elected house republican majority is opposed to raising tax rates. they're willing to accept new revenue under certain conditions. what is your reaction to that? them have signed? -- could that violate the pledge that most of them assigned to? >> if we had a recovery the strength of reagan's recovery, there would be 10 million more americans at work today. if we take reagan's path of less spending and regulation, he has a million more americans at work today than obama does. i would rather have his recovery and all the revenue that flows from that. if you grew 4% a year instead of 2%. the difference between growing from 4% instead of 2% is $5 trillion in additional revenue to the federal government. nobody is talking but raising taxes $5 trillion. why not focus to reduce rates, have lower taxes, it to get more growth. you actually net more additional revenue. >> it seems like john boehner is now willing to get that revenue not just from the e
. >> moving ahead to the fiscal cliff. john boehner has reiterated that the newly elected house republican majority is opposed to raising tax rates. they're willing to accept new revenue under certain conditions. what is your reaction to that? them have signed? -- could that violate the pledge that most of them assigned to? >> if we had a recovery the strength of reagan's recovery, there would be 10 million more americans at work today. if we take reagan's path of less spending and...
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Nov 10, 2012
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cliff that would come from increasing tax rates. according to ernst and young, raising the top rates would destroy nearly 700,000 jobs in our country. the members of our majority understand how important it is to avert the fiscal cliff. that is why the house took action earlier this year, to replace the sequester with other types of cuts, and is also why of the summer we passed a bill to extend all of the current tax rates. for one year so we had time to overhaul our tax code. and that is why i outlined the responsible path forward, where we can replace the spending cuts and extend the current rates, paving the way for entitlement reform, as well as tax reform with lower rates. at 2013 should be the year that we begin to solve our debt through tax reform and entitlement reform. i am proposing that we avert the fiscal cliff together in a manner that ensures that 2013 is finally the year that our government comes to grips with the major problems that are facing us. we will bring jobs home that result in a stronger, healthier economy,
cliff that would come from increasing tax rates. according to ernst and young, raising the top rates would destroy nearly 700,000 jobs in our country. the members of our majority understand how important it is to avert the fiscal cliff. that is why the house took action earlier this year, to replace the sequester with other types of cuts, and is also why of the summer we passed a bill to extend all of the current tax rates. for one year so we had time to overhaul our tax code. and that is why i...
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Dec 9, 2012
12/12
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i'm not sure you're going to get a big deal right now but you might get enough to avoid the fiscal cliff and then more fighting next year over spending. >> will republicans accept a 38% tax rate for the wealthy? and will democrats accept reductions in entitlement spending? >> that's a good question. corker would accept 37% but he speaks for a few senators. he doesn't speak for the house republican majority and john boehner though it seems to be moving that direction. i'm not sure the president would accept 37% because i'm not sure he gets enough money. you need enough money, whether there's some -- yes, partial increase in rates and then some tightening of loopholes, but then again, so much of this talk has been about taxes and what the democrats have refused to talk about at this point is spending cuts and serious entitlement reform. republicans will demand there whether it's part of the deal in the fiscal cliff or to raise the debt limit. >> i'm glad you brought that up. in terms of spending, which clearly has to be cut, the president from the reports this week wants to raise the debt
i'm not sure you're going to get a big deal right now but you might get enough to avoid the fiscal cliff and then more fighting next year over spending. >> will republicans accept a 38% tax rate for the wealthy? and will democrats accept reductions in entitlement spending? >> that's a good question. corker would accept 37% but he speaks for a few senators. he doesn't speak for the house republican majority and john boehner though it seems to be moving that direction. i'm not sure...
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Dec 2, 2012
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fiscal cliff talks are turning into a high-stakes game of chicken. secretary tim geithner said there's no deal unless republicans agree to raise taxes on the wealthy. >> if they are going to force higher rates on virtually all americans because they are unwilling to let tax rates go up on 2% of americans, then that's the choice we'll have to make. >> republicans are furious. they don't like democrats drawing a red line in the sand. >> i think we are going over the cliff. it is pretty clear to me they made a political calculation. >> president barack obama and gop leaders held one face to face meeting on the fiscal cliff since the election. that meeting took place more than two weeks ago. >>> the kansas city chiefs suited up and took the field today against carolina. that's despite the shock and horror of yesterday's suicide of linebacker jevon belcher. stay right there with full details in a full report on cnn in just a minute. >>> high winds and heavy rain are pummeling the northwest. the rainfall will continue throughout the day. some places have a
fiscal cliff talks are turning into a high-stakes game of chicken. secretary tim geithner said there's no deal unless republicans agree to raise taxes on the wealthy. >> if they are going to force higher rates on virtually all americans because they are unwilling to let tax rates go up on 2% of americans, then that's the choice we'll have to make. >> republicans are furious. they don't like democrats drawing a red line in the sand. >> i think we are going over the cliff. it is...
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Dec 6, 2012
12/12
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in a fiscal cliff free fall, tax rates on capital gains could rise to 24%. those dividends could increase to a whopping 44%. here now is former reagan economic adviser art laugher. how can you have capitalism without capital and why is there a war on capital, that includes cap gains, that includes dividends which will triple. it also includes the estate tax. why is there a war on capital? >> i have no idea, larry. i think it's just pure politics. but it's sort of lovely the words and looking them up. i understand that the french don't have a word for entrepreneur or laissez faire. [ laughter ] >> because they never use it. >> they never use it. economics is all about incentives. if you tax people who work, you pay people who don't work, don't be surprised if you find a lot of people not working. it's the rich issue here, which is just fascinating to me. if you tax rich people and give the money to poor people, you're going to get lots and lots of poor people and very few rich people. just look at what happened in britain two years ago when gordon brown raise
in a fiscal cliff free fall, tax rates on capital gains could rise to 24%. those dividends could increase to a whopping 44%. here now is former reagan economic adviser art laugher. how can you have capitalism without capital and why is there a war on capital, that includes cap gains, that includes dividends which will triple. it also includes the estate tax. why is there a war on capital? >> i have no idea, larry. i think it's just pure politics. but it's sort of lovely the words and...
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Dec 14, 2012
12/12
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cliff and nearly every federal tax rate is said to increase. if that happens, what will the house of representatives due to lack if you do not have a deal by monday, you start, at least, procedurally, for getting this thing entirely. conversations continue, but, still, no real progress. dagen: thank you, rich. scott miner says it is greatly over stated. how is it overstated? >> well, i think, at this stage of the game, the market already assumes it is not likely we are going to get a deal. because they assume we are not going to get a deal, we are pricing for one of the worst case scenarios. if we just went off the cliff, at this stage of the game, removing that uncertainty from the market would result in a rally from the equities. i think it is a good entry point in the next few weeks. dagen: we were looking at the ten year treasury and the yields have gone back up. i have heard people say the yield should be at 1.2% if we end up going over that live. you do not buy that, you do not think there will be a rally and money coming out of the stock
cliff and nearly every federal tax rate is said to increase. if that happens, what will the house of representatives due to lack if you do not have a deal by monday, you start, at least, procedurally, for getting this thing entirely. conversations continue, but, still, no real progress. dagen: thank you, rich. scott miner says it is greatly over stated. how is it overstated? >> well, i think, at this stage of the game, the market already assumes it is not likely we are going to get a...
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Dec 5, 2012
12/12
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as you think about the fiscal cliff and what is coming, one of the few places you can see people responding to it is in their behavior around capital gains and dividends. companies are moving up to how, shareholders take a vintage of a lower rate. i expect you will see more investors realize lower capital gains in order to get lower rates. there is clearly money there. there is clearly money that has interesting, distributional characteristics. that tends to be money that comes from higher income folks. as you think about the political process trying to structure when a package with a revenue goal and a distribution goal, my prediction is you will see at least some of those increases occur. i personally would be surprised if the dividend rate went back up to ordinary rates. the senate would allow it to stay at the capital gains rate, and go it to 15% to 20%. the president initially proposed cutting dividends they the same as capital gains. -- proposed letting dividends stay the same as capital gains. my guess would be that that is where we end up. >> what would you say is best? should the d
as you think about the fiscal cliff and what is coming, one of the few places you can see people responding to it is in their behavior around capital gains and dividends. companies are moving up to how, shareholders take a vintage of a lower rate. i expect you will see more investors realize lower capital gains in order to get lower rates. there is clearly money there. there is clearly money that has interesting, distributional characteristics. that tends to be money that comes from higher...
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Dec 11, 2012
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. >> people are disgusted at the notion of a fiscal cliff took their feelings to the streets today. [ singing ] >> 75 protesters rallied downtown at noon and the raging grannies sang. the demonstration was organized by the american dream counsel and moveon.org. they are asking the public to contact john boehner. >> we are focusing our rally on john boehner and asking him to pay attention to what is good for the country instead of protecting himself. >> the group says they will target any lawmaker who tries to cut a deal over the fiscal cliff. >>> thousands will pause saturday to remember those who lost their lives serving our country. [ bagpipes playing ] >> the kickoff was held today at the state capttle. -- capital. >> makes you quietly think that, one, you are glad to be an american, you have to say thank you to these individuals who gave their service to the country. >> 400,000 wreaths are expected to be placed this weekend. >>> vandals hit a radio station for a third time and knock it off the air. how they got around the alarm system. >> how low temperatures will drop and when ra
. >> people are disgusted at the notion of a fiscal cliff took their feelings to the streets today. [ singing ] >> 75 protesters rallied downtown at noon and the raging grannies sang. the demonstration was organized by the american dream counsel and moveon.org. they are asking the public to contact john boehner. >> we are focusing our rally on john boehner and asking him to pay attention to what is good for the country instead of protecting himself. >> the group says...
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Nov 29, 2012
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he says because we're at the zero balance, interest rates were zero, the effect of the fiscal cliff is getting much worse than if the fed were not at zero. >> because they could do something. >> the only positive thing which dudley did not talk about but it is something that's on the radar is that, as the fiscal cliff fears rise, interest rates fall on the 10-year. so the effect the fed would have from easing is already in -- already happening as a market reaction. >> steve, thank you. >>> when jeff kilburg is not fired up about the irish he is fired up about what mr. dudley said today. why? >> absolutely. he came out with very dovish comments. he lass a permanent vote and he is quite the confidant of ben bernanke. so he flat-out gave a wink-wink, there's something big coming in less than two weeks. >> he's been a dove for a long time though. no change but just to hear it articulated gives you some sense of -- >> it does. this could be a one-two punch. if the fomc comes out with additional measures, subsequent week later, all of a sudden they have the fiscal cliff resolution, bam, we c
he says because we're at the zero balance, interest rates were zero, the effect of the fiscal cliff is getting much worse than if the fed were not at zero. >> because they could do something. >> the only positive thing which dudley did not talk about but it is something that's on the radar is that, as the fiscal cliff fears rise, interest rates fall on the 10-year. so the effect the fed would have from easing is already in -- already happening as a market reaction. >> steve,...
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Nov 7, 2012
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just now a race against the clock to head off the fiscal cliff. already two ratings agencies have wasted no time on this issue today. fitch saying the u.s. needs to fix that debt threat and moody's says it's going to wait before taking any action and maintain its negative outlook on the u.s. economy. one thing is for sure. the stock market is taking the fiscal cliff very seriously. the blue chip average is off the lows but still down sharply at one time today, the dow was down about 369 points. first time we've seen that big of a decline since november 21st of last year. off the lows rights now, the dow down 260 points at 12,985. the nasdaq is down 63 points, a more than 2% decline at 2947. the s&p at this hour is down 28 points right at 1400. let's break down what's behind today's dramatic decline in stocks in today's "closing bell" exchange. we welcome back michael pento, kwint tatro, jeff sika, and our own rick santelli. quint, you believe the market was going to go down either way. why? >> i do. i think this was long overdue. we have been prop
just now a race against the clock to head off the fiscal cliff. already two ratings agencies have wasted no time on this issue today. fitch saying the u.s. needs to fix that debt threat and moody's says it's going to wait before taking any action and maintain its negative outlook on the u.s. economy. one thing is for sure. the stock market is taking the fiscal cliff very seriously. the blue chip average is off the lows but still down sharply at one time today, the dow was down about 369 points....
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Nov 15, 2012
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the market lower once again on more fears over fiscal cliff and the uncertainty over tax rates in 2013. in a few minutes, i'll be speaking to the men behind the campaign to fix the country's debt, alan simpson and erskine bous. take a look at how we're settling on wall street today. the market did end off the worst levels of the session. nonetheless, we continue to see a decline. the markett down about 5% since the election. we continue to see a deterioration here. the nasdaq gave up about ten points at 2836. the s&p flat on the night, down about 2.25 points. the market closing lower once again today, adding to the losses we have been seeing since the election. is a deal in washington what investors are waiting for to get back into the game? joining me now is ben pace from deutsch back private wealth management, scott collier and our own mandy drury. good to see everybody. ben pace, what is behind this selling, and when will it end? what's your take? >> i don't think it's really economic right now, maria. i think it's pretty political. every pronouncement we've heard over the last four
the market lower once again on more fears over fiscal cliff and the uncertainty over tax rates in 2013. in a few minutes, i'll be speaking to the men behind the campaign to fix the country's debt, alan simpson and erskine bous. take a look at how we're settling on wall street today. the market did end off the worst levels of the session. nonetheless, we continue to see a decline. the markett down about 5% since the election. we continue to see a deterioration here. the nasdaq gave up about ten...
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Dec 19, 2012
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whether a fiscal cliff deal includes a rate hike the fact is a tax is a tax. and a huge amount of money will move from the private sector to the government. by the way, it isn't going to solve the deficit. let's go to doug holts president of the american action forum. i think too few people have exam inned the impact of this thing. one way or the other, that is a lot of money draining from the private sector to the government. i would have to agree with you, this is an economy. i would put p it into one perce and you hear people talk about the numbers. but underneath the numbers you have to worry about the quality of the policy. it is the worst way to raise revenue, and that is attribute to the fact that the politics are trumping the politics right now. >> in economic turns if you put a 39.6% tax rate on millionaires and above, if you do that, would that be the least ownerous thing you have heard so far? >> i think the goal should be, the least we've seen so far. but it didn't get a great reception on the other side of the i'll. it remains to be seen what we w
whether a fiscal cliff deal includes a rate hike the fact is a tax is a tax. and a huge amount of money will move from the private sector to the government. by the way, it isn't going to solve the deficit. let's go to doug holts president of the american action forum. i think too few people have exam inned the impact of this thing. one way or the other, that is a lot of money draining from the private sector to the government. i would have to agree with you, this is an economy. i would put p it...
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Nov 9, 2012
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i mean they said that if all -- if we go over the fiscal cliff, that we might see an unemployment rate spike to above 9%. do you think that that pushes it a little bit for both sides to really get together and get something done? >> well, look. unemployment over9% is definitely an eye opening figure. but i think the folks in washington know this is a bad deal. they know it is a worst case scenario if we go over the fiscal cliff. there are some in both parties who argue that it might be best to actually go over the fiscal cliff for a variety of tactical and ideological reasons but most folks in washington, sort of where the center of gravity is politically, they think the fiscal cliff is a bad idea and they don't need necessarily another report from cbo to underscore that for them. i think what we're seeing now is this opening from boehner and i think it is probably easier now for barack obama to give up on the raising rates idea as long as he's getting more revenue from the republicans. that's probably something that is easier for the president to do in this case than it is for boehner
i mean they said that if all -- if we go over the fiscal cliff, that we might see an unemployment rate spike to above 9%. do you think that that pushes it a little bit for both sides to really get together and get something done? >> well, look. unemployment over9% is definitely an eye opening figure. but i think the folks in washington know this is a bad deal. they know it is a worst case scenario if we go over the fiscal cliff. there are some in both parties who argue that it might be...
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Nov 9, 2012
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. >> the fiscal cliff could cause the economy to slide back into recession and raise the unemployment rate to 9.1%. >> the bottom line is, markets already saying, we are not sure what is happening here. the ultimate irony is this would have happened regardless of who got elected president. >> president obama is urging congress to act to avert this fiscal cliff. he is planning to meet with leaders of both parties in the white house next week. >> here is a look at some of our other top stories at this hour. cia director david petraeus has resigned to night because of an extramarital affair. in his letter of resignation, he said he asked president obama for permission to step down, saying his behavior was unacceptable as a husband and an official. president obama did accept the resignation. he said the four-star general has made our country safer and stronger. transportation officials have confirmed that they are investigating theft and misconduct by transportation department personnel. an extensive investigation has revealed employees received more than $58,000 in scrap metal proceeds o
. >> the fiscal cliff could cause the economy to slide back into recession and raise the unemployment rate to 9.1%. >> the bottom line is, markets already saying, we are not sure what is happening here. the ultimate irony is this would have happened regardless of who got elected president. >> president obama is urging congress to act to avert this fiscal cliff. he is planning to meet with leaders of both parties in the white house next week. >> here is a look at some of...
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Nov 10, 2012
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it is critical to averting the so-called fiscal cliff -- automatic spending cuts and tax rate increases. despite the risks we should let our nation's economy go off part of the fiscal cliff by allowing the top two rates to rise. they believe that doing that would generate more revenue for the federal government. raising those rates on january 1 would destroy 700,000 american jobs. many of those hit by those tax increases are small business owners, the people who are the key to job creation. i used to be one. i offer congratulations to president obama. i offered in a tentative to sending our economy over the fiscal cliff. instead of raising taxes, let us actually solve the problem. let us focus on tax reform that close a special interest loopholes and lower tax rates instead of accepting our but if -- arbitratry tax rate. s. 2013 should be the year to begin to solve our debt through tax reform and entitlement reforms. together we should avert the fiscal cliff in a way that ensures 2013 is that year. close and special interest loopholes to end deductions and moving to a bare, cleaner and
it is critical to averting the so-called fiscal cliff -- automatic spending cuts and tax rate increases. despite the risks we should let our nation's economy go off part of the fiscal cliff by allowing the top two rates to rise. they believe that doing that would generate more revenue for the federal government. raising those rates on january 1 would destroy 700,000 american jobs. many of those hit by those tax increases are small business owners, the people who are the key to job creation. i...
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Dec 8, 2012
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no ifs, ands or buts on that specific aspect of the fiscal cliff. >> with respect to the tax rates, i want to emphasize, i am open to new ideas. i'm not going to slam the door in their face. i want to hear -- i want to hear ideas from everybody. >> that's not a no. here is the treasury secretary timothy geithner. >> there's no agreement that doesn't involve the rates going up on the top 2%. >> not necessarily going up to the clinton era rates. just going up. today at a press conference at the capital, bain got a question about this. listen carefully to how he responded or didn't respond. >> you did speak with the president earlier this week. can you characterize this call? and also we understand that he just is making clear that it's got to be increasing rates for the wealthy or no deal. are you willing to give a little bit? maybe just not all the way to 39.6? >> the phone call was pleasant, but just more of the same. the conversations that the staff had yesterday, just more of the same. it's time for the president, if east serious, to come back to us with a counteroffer. >> not a no
no ifs, ands or buts on that specific aspect of the fiscal cliff. >> with respect to the tax rates, i want to emphasize, i am open to new ideas. i'm not going to slam the door in their face. i want to hear -- i want to hear ideas from everybody. >> that's not a no. here is the treasury secretary timothy geithner. >> there's no agreement that doesn't involve the rates going up on the top 2%. >> not necessarily going up to the clinton era rates. just going up. today at a...
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Dec 3, 2012
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it's 30 days and counting until we go over the fiscal cliff. >> the president is demanding higher tax rates. congressional republicans want deeper spending cuts and entitlement reform. will they make a deal before we bring in the new year with a round of tax increases for all of us? we will ask the two men at the center of the negotiations where we really stand. for the president, treasury secretary timothy geithner. for the gop house speaker john boehner. geithner and boehner only on fox news sunday. plus, we've seen this movie before. the two parties edging closer and closer to the brink. we will ask our sunday panel whether we will get a happy ending or an economic disaster. and our power player of the week. a young beauty queen has to make a tough choice. all right now on fox news sunday. >> hello again from fox news in washington. well, we had quite a day around here friday with talks to avoid the fiscal cliff deadlock, and everyone saying the other side is to blame, pressure secretary geithner scheduled a ground of interviews. then friday afternoon, speaker boehner's office call
it's 30 days and counting until we go over the fiscal cliff. >> the president is demanding higher tax rates. congressional republicans want deeper spending cuts and entitlement reform. will they make a deal before we bring in the new year with a round of tax increases for all of us? we will ask the two men at the center of the negotiations where we really stand. for the president, treasury secretary timothy geithner. for the gop house speaker john boehner. geithner and boehner only on fox...
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Nov 16, 2012
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. >>> as the president and congressional leaders kick off negotiations this morning on the fiscal cliff, some republican governors are softening their language on taxes suggesting gop leaders in congress should stay open to raising tax rates in exchange for entitlement reform. nbc senior political editor mark murray is here with this morning's first read. gop softening a little bit, mark? >> luke, this is a significant development. you've been on capitol hill for quite a while now and republicans are always usually lock step in policy fights. normally it's the democrats on one side or actually the other and the fact you have some republican governors, virginia governor bob mcdonald, former mississippi governor haley barbour essentially saying, you know what, maybe we do need to reconsider having taxes go up for the wealthy as long as we get something in return. and i can guarantee the white house and president obama may show those quotes of john boehner and eric cantor. >> haley barbour on taxes, and this is from the republican governors association meeting in la las vegas. quote, if th
. >>> as the president and congressional leaders kick off negotiations this morning on the fiscal cliff, some republican governors are softening their language on taxes suggesting gop leaders in congress should stay open to raising tax rates in exchange for entitlement reform. nbc senior political editor mark murray is here with this morning's first read. gop softening a little bit, mark? >> luke, this is a significant development. you've been on capitol hill for quite a while...
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Dec 23, 2012
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is there a plan c or over the fiscal cliff. dan henninger, editorial board member. mary anastasia o'grady and jason riley. where do we stand right now with the collapse of plan b? >> well, it's no fun being john boehner right now. he's still in a tight spot and the concern that the republicans have is that obama's panel strength and as we go over the cliff and tax rates go up. but i really think the buck stops with the president here. when you go into the negotiating sessions, paul and you're expected to make concessions, but you're expect today get something in return and boehner made a major concession on rights and the president is giving him nothing in return to take that to his caucus and say, this is what happened in the horse trading. it's all or nothing, obama seems determined to humiliate the opposition. >> paul: boehner made two concessions, first 800 billion on the table in revenue and don't raise rates when the president said no he, you've got to raise rates. he said okay, a concession on rates, an offer first we'll vote for a million dollar tax increase
is there a plan c or over the fiscal cliff. dan henninger, editorial board member. mary anastasia o'grady and jason riley. where do we stand right now with the collapse of plan b? >> well, it's no fun being john boehner right now. he's still in a tight spot and the concern that the republicans have is that obama's panel strength and as we go over the cliff and tax rates go up. but i really think the buck stops with the president here. when you go into the negotiating sessions, paul and...
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Dec 10, 2012
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i think it is an important point for people to understand what the fiscal cliff aside, you have a year-end tax plan. >> there is a usual thing you should still be doing every year. with the rates going up, like a grown-up, there are more valuable than if you don't use them this year. tracy: many people wanting to save their gains, take the losses. >> everybody talks about taking again now, buying back, hire you don't want to accelerate10 texas unless you know you're going to sell those anyway. soon into 2013. if you have a concentrated position is a lot of risk to get out. the next six to 10 months, accelerate. in a long-term investment, there's no reason i don't think accelerate the games to pay uncle sam early. tracy: if you are in a position is a short-term gain, would you buy it back in their retirement accounts like iras? >> it depends if there's going to be gain potentials, still lower than the rate. tracy: that is really important as tax rates go up. speak of the thing is the fiscal cliff is driving people to get a little crazy but reality is the argument is over the highest bracket
i think it is an important point for people to understand what the fiscal cliff aside, you have a year-end tax plan. >> there is a usual thing you should still be doing every year. with the rates going up, like a grown-up, there are more valuable than if you don't use them this year. tracy: many people wanting to save their gains, take the losses. >> everybody talks about taking again now, buying back, hire you don't want to accelerate10 texas unless you know you're going to sell...
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Dec 21, 2012
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the problem, though, is that the economy sill is vulnerable to the fiscal cliff. tax rates are going to jump significantly on january 1st if nothing is done quickly and that would cause, we think if it lasted, a contraction in the first quarter. >> so contraction in the first quarter. are you speccing a recession? >> we are not. we still think some deal will be reached in the next couple of weeks. and that scenario we think is going to grow 1.5% to 2 the% in the next year. but the risk of no deal is obviously rising. we still think hal happen, though. rick santelli, what r saying there in chicago? the market was down, but the volume was up big. >> maria, like i think the first guest, i would rather impressed by the fact that we're down 119 and we're done much more in the wee hours of the morning after that vote failed and the i was as shock as all of guests were. next year, it's going to be the same. no matter how this fiscal cliff gets resolved, we would be job challenged. and i continue to think a bright spot is going to be energy. i think energy is an industry
the problem, though, is that the economy sill is vulnerable to the fiscal cliff. tax rates are going to jump significantly on january 1st if nothing is done quickly and that would cause, we think if it lasted, a contraction in the first quarter. >> so contraction in the first quarter. are you speccing a recession? >> we are not. we still think some deal will be reached in the next couple of weeks. and that scenario we think is going to grow 1.5% to 2 the% in the next year. but the...
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Dec 23, 2012
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that is when you see all the problems with the fiscal cliff, the debt deal from last year, the cr -- all of these issues of tax rates and spending are hitting because people do not want to continue to steal from the future to pay for now. host: stephen dinan was the the politics editor at the washington times. he covered the legislature in virginia. he has a bachelor's from the university of virginia. in the new york times this morning, there was an article with the headline, boehner finds the speaker's chair can be lonely. republicans fell 20 votes short of those needed to pass mr. boehner's bill that would make permanent musharraf tax cuts for households under $1 million per year -- make permanent the bush tax cuts for households under $1 million per year. the republican team could not bring enough members on board even though many of those who declined to support the measure told republican leadership that they secretly hoped it would pass. ixion's like some of these guys -- the speaker and the majority -- it sounds like some of these guys who the speaker and the majority leader t
that is when you see all the problems with the fiscal cliff, the debt deal from last year, the cr -- all of these issues of tax rates and spending are hitting because people do not want to continue to steal from the future to pay for now. host: stephen dinan was the the politics editor at the washington times. he covered the legislature in virginia. he has a bachelor's from the university of virginia. in the new york times this morning, there was an article with the headline, boehner finds the...
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Dec 10, 2012
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cliff. >>> the latest on the death of the royal nurse. >>> handcuffed man makes off with a police cruiser. >>> and could hillary clinton be presented with an offer she can't refuse? >>> very good morning to you, i'm veronica de la cruz. right now residents in the midwest are waking up to some of the heaviest snowfall they've seen in two months. a low moving storm dumped more than a foot. 150 flight cancellations and delays at minneapolis st. paul airport. nbc meteorologist bill karins has been tracking those storms. it looks bad. >> impressive. ten inches in minneapolis. winter has arrived and in a big way through the middle of the country. the wind chills are brutal this morning. all of this mess is now sliding to the east coast. thankfully not the snow and ice. the storm itself is actually located over lower michigan heading up towards just north of buffalo. these storms in the winter that track up into canada drag warmer air to the east coast. that's why we're not worried about a big snow
cliff. >>> the latest on the death of the royal nurse. >>> handcuffed man makes off with a police cruiser. >>> and could hillary clinton be presented with an offer she can't refuse? >>> very good morning to you, i'm veronica de la cruz. right now residents in the midwest are waking up to some of the heaviest snowfall they've seen in two months. a low moving storm dumped more than a foot. 150 flight cancellations and delays at minneapolis st. paul airport. nbc...
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Dec 10, 2012
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the reason, well, the fiscal cliff. the current rate is 35%. only those estates worth 5 million or more have to file. if we go off the cliff the rate shoots up to 55%. anyone worth an estate worth $1 million or more has it file. that will catch tens of thousands of tax payers in the net of the estate tax. republicans want it abolished or current rates to be made permanent. obama wants 45% rate and 3.5 million cut off. that mid way between today's rates and old rate. the problem is that even some democrats are siding with republicans saying they want it keep current rates. all the sides here tyler remain very far apart. wealthy families need 20 rewrite their wills and charity plans. for the country, there are hundreds of billions of dollars at stake. under old rates, they raise $532 billion by 2021. obama plan raised around $270 billion, about half. gop raises about $161 billion. the fight over taxing the rich, especially in the estate tax, is far from over. back to you, tyler. >> not the first time the estate tax has come up in these kinds of n
the reason, well, the fiscal cliff. the current rate is 35%. only those estates worth 5 million or more have to file. if we go off the cliff the rate shoots up to 55%. anyone worth an estate worth $1 million or more has it file. that will catch tens of thousands of tax payers in the net of the estate tax. republicans want it abolished or current rates to be made permanent. obama wants 45% rate and 3.5 million cut off. that mid way between today's rates and old rate. the problem is that even...
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Oct 18, 2012
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no leadership when it comes to the fiscal cliff we're going to face with tax rates going up january 1. sequester hitting january 2. >> bret: get ready. the fiscal cliff standoff is coming. the white house is signaling they'll veto any plan that doesn't veto taxes on rich. he has had his position for a long time. romney campaign released a statement to work in bipartisan manner as fiscal cliff approaches. president obama first issued veto threats and ignore the other party. we have can't afford four more years of the failed leadership. back with the panel. mara, you know, we have this election coming of course. but the fiscal cliff is rapidly approaching. approaching >> rapidly approaching and big deal. it's congress and the white house's own making. they engineered the package. the resolution of this is completely dependent on who wins the election. if romney wins they will pass this and he wants a year to do the tax reform and big grand bargain that needs to be done. if president obama wins they could get a lame duck. he would have more leverage. bottom line is the same there. has to
no leadership when it comes to the fiscal cliff we're going to face with tax rates going up january 1. sequester hitting january 2. >> bret: get ready. the fiscal cliff standoff is coming. the white house is signaling they'll veto any plan that doesn't veto taxes on rich. he has had his position for a long time. romney campaign released a statement to work in bipartisan manner as fiscal cliff approaches. president obama first issued veto threats and ignore the other party. we have can't...
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Dec 12, 2012
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in regard to the fiscal cliff, i think the right thing to do is to let the tax rates go up across the board, just like they agreed to do. i think we ought to have middle income americans as well as high income americans having a reduction of those tax rate cuts we saw. tracy: take more from my paycheck, let the fed put money into the system. does it make sense at the end of the day? shouldn't i keep my money, g out there and spend it and let the fed keep theirs? >> well, that's, you got a good point, and i agree that instabilit and monetary policy is not very effective, and so i' not looking for very much from the fed tomorrow. tracy: no, yao not alone, sir. wayne, former fed reserve governor, thanks for taking the time. >> you're welcom. tracy: all right. well, if you are fired up about this or any of theissues on the program, drop the show an e-mail at gerri@foxbusiness.com. >>> coming up on "the willis report," house speaker boehner and the republican accusing president obama of kicking the can down the road. >> t longer they slow down the process, the closer our economy gets to th
in regard to the fiscal cliff, i think the right thing to do is to let the tax rates go up across the board, just like they agreed to do. i think we ought to have middle income americans as well as high income americans having a reduction of those tax rate cuts we saw. tracy: take more from my paycheck, let the fed put money into the system. does it make sense at the end of the day? shouldn't i keep my money, g out there and spend it and let the fed keep theirs? >> well, that's, you got a...
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Dec 20, 2012
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their plan b is to slowly walk us over the fiscal cliff. for weeks the white house said if i move owned rates that they would make substantial concessions on entitlement reforms. the president's last offer of $1.3 trillion in new revenues with only 850 billion worth of spending reductions, fails to mate the test of balance that he continues to call for. and frankly, i'm convinced that the president is unwilling to stand up to his own party on the big issues that face our country. time's running short. >> harry reed just add conference saying house republicans have no future. [ inaudible ] tell us what he said -- [ inaudible ] >> i talked to senator reid this morning. he was more polite. >> we know the reality here, that if you get the votes of the house, it is not going anywhere with the senate. is this a necessary step -- >> i am not convinced at all that when the bill passes the house today that it will die in the senate. at some point the senate has it act. they failed to act. we have a bill sitting on the desk in the senate that pro pro
their plan b is to slowly walk us over the fiscal cliff. for weeks the white house said if i move owned rates that they would make substantial concessions on entitlement reforms. the president's last offer of $1.3 trillion in new revenues with only 850 billion worth of spending reductions, fails to mate the test of balance that he continues to call for. and frankly, i'm convinced that the president is unwilling to stand up to his own party on the big issues that face our country. time's running...